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Add as a preferred source on Google FxWirePro: EUR/SEK breaks below 200-DMA, dip till 10.6271 likely The Swedish Krona rallied, extending gains from the previous session as investors digested yesterdays better-than-expected manufacturing PMI figures. EUR/SEK trades 0.2 percent down at 10.6465, having hit a high of 10.69…
By FxWirePro Team Feb 4, 2020, 11:06 AM UTC
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The Swedish Krona rallied, extending gains from the previous session as investors digested yesterdays better-than-expected manufacturing PMI figures.
EUR/SEK trades 0.2 percent down at 10.6465, having hit a high of 10.6915 on Monday, its highest since November 21.
Technical indicators are bearish: RSI pointing south and Stochs have rolled over from overbought levels.
Immediate resistance is located at 10.6835, any close above could take it near 10.6927.
On the lower side, support is seen at 10.6271 (5-DMA), break below could take it till 10.6203 (7-EMA)
Recommendation: Good to sell on rallies around 10.6620, with stop loss of 10.6750 and target price at 10.6271
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